Pylwex.com Review – Another Crypto Trading Scam Revealed

Pylwex.com exchange is one of those presenting themselves as the best ones in the industry. In this case, the best in Europe.

Sadly, many signs are showing us the opposite. Starting with their ownership and address details, location, and much more. Luckily, you will have all the details presented in this honest Pylwex.com review that could keep you safe from scammers.

Legal Info: Is Pylwex.com Legit Or A Scam?

One of the first signs this company is not legitimate is its regulation. Or lack of it if you like. Since the company is anonymous, we can’t verify the country they are coming from. However, the T&Cs reveal the governing law for any disputes is in Malta.

Therefore, the company might be registered there. In any case, without any MFSA, FCA, BaFin, or any other regulatory oversight, this company can’t be trusted.

Who Are Pylwex.com’s Victims?

As can be seen through the research, the Pylwex.com scam company has mainly targeted a few European countries, even though these countries have quite rigorous financial regulations. Those are: 

If you are coming from any of these, there’s an easy solution. Firstly, report the company to local authorities, such as BaFin, CNMV, and KNF. But also, you can contact our refund experts for advice about recovering the money.

Investment Costs With Pylwex.com

Important to realize is that the company promotes 0% fees on first trades. But how many first trades, it remains questionable. As for the maker and taker fees, traders can get 0.075% on level one of their scale.

But even for a level one, you will have to purchase a Premium account and fall for the company’s trick. In any case, the lowest fees you can get are 0.035% for makers and 0.045% for takers. But there’s a thing we forgot to mention. The company is running the same scheme on different platforms. For instance, jamblex.com, elonxmusk.com,  koygex.com, and about 30 more.

Bonuses

Even though there’s no transparent bonus offer, the bonus offers are included. At least, that’s what T&Cs reveal. But also, Pylwex.com TikTok promotion. Therefore, be careful if the company presents you with any celebrities or giveaways.

Pylwex.com Trading Features

This company is trying hard to look legitimate. Yet, some facts simply don’t add up. According to who.is records, this company was registered in October 2023. 

Can anyone believe they have almost $68 million in 24-hour market volume? With their low transparency and zero advanced features, we highly doubt them. But that’s what they serve their clients with.

Trading Platform Avaialble

Another key warning sign is the company’s fraudulent web-based platform. Instead of trusted and optimized desktop and mobile apps, traders have to bother trading through the browser.

Generally, not the most convenient method you can find. Especially if you compare it to tier-1 licensed exchanges. To see what options you can trust, read our BCH Advance review.

Available Trading Assets

Knowing that the company is completely anonymous, we can expect all its assets to be fictive. If you are looking to invest in crypto, feel free to join any top-tier regulated exchange. But this one is not a place for it. However, if you do decide to invest, you’ll have hypothetical options to invest in: 

• BTC
• LTC
• ETH
• DOGE
• SHIBA
• XRM, and a few more.

Account Types

Usually, the account types with some companies present some sort of benefits to traders who trade more. With scam companies, it only depends on your deposit. With the Pylwex.com fraud crypto exchange, the situation is the same.

Only traders with a trading volume higher than 30 BTC can get better fees. But also, traders with VIP accounts can get better conditions overall, such as fast withdrawals and premium customer support. Yet, in general, these features should be available for every customer.

Mobile Trading App

One of the biggest flaws of any scamming crypto exchange is when they don’t develop trusted wallets and apps. That’s exactly the case with Pylwex.com company. Consequently, nobody can trust their security on its poorly designed web-based platform.

Demo Account

Even though access to the platform is free, no virtual funds are available for testing. To be fair, crypto exchanges rarely offer such features. But this company is far from a crypto exchange. They look more like a crypto broker than an exchange. In any case, there is not a single reason to trust them.  But to see why a demo account is important, check our tips from the WiseFXPro review.

Education

Of course, the company that wants to scam you wants clients to know as little as possible. Therefore, any educational programs, webinars, and live sessions are the mission impossible. In any case, we honestly suggest you stick to the educational programs of licensed companies.

Pylwex.com Withdrawal

The Pylwex.com withdrawal is quite a mystery. Even though they reveal withdrawal fees, we highly doubt that’s all. Any unregulated company will do anything to prevent the payout.

That’s exactly why this company doesn’t have a transparent withdrawal policy. But even the VIP withdrawal procedures will be questionable here. Therefore, if you see any irregularity during the withdrawal process, don’t hesitate to apply for a chargeback immediately.

Customer Support

Another big failure of this company is its customer service. In fact, there’s not even a single option to contact the company if you are not a registered client. Even the registered clients will most likely use encrypted channels like WhatsApp and Telegram. Be careful with it.

Key Information To Consider About Pylwex.com

Everything about this company sounds suspicious. Firstly, the company is not licensed. Secondly, they are hiding ownership, address, and contact details. Lastly and most importantly, they are misleading traders about everything.

All in all, you shouldn’t trust them even with a penny. But if you did, feel free to contact our refund specialists. After all, the first meeting is free of charge. And you could get valuable information in exchange.

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